Ark Invest chief executive Cathie Wood expects Bitcoin to hit $500,000 in five years. This figure has been mentioned elsewhere but the timeline might be underestimating the current state of play in the exponential age.

Meanwhile, Bitcoin has seemingly found a bottom and is once again knocking on the doors of $50,000. The question is: how long will this resistance hold?

Let’s dig in.

Ark Invest CEO Cathie Wood expect bitcoin to reach $500,000 in five years. The firm’s conviction in ethereum has also strengthened, per comments in an interview with CNBC at the SALT Conference on Monday.

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Buying bitcoin when it is unpopular to own it has proven to be a wise choice, historically. A year ago today one bitcoin cost less than $10,000. Today, it’s over 4-times the price.

Meanwhile, US politicians are characteristically more worried about protecting their political hides than taking the necessary steps to adopt sound money principles like El Salvador.

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Last week, Treasury Secretary Janet Yellen warned congressional leaders that the US is expected to default on its national debt in October if the White House and Congress are unable to raise the debt ceiling yet again. …

Just when the skies appeared clear, the crypto market turned south-bound and did not stop until $3.4 billion longs were liquidated. The sell-off resulted in a $10,000 move which caught many off guard.

Is this the end of the bull-market as we know it?

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The world’s pioneering cryptocurrency dropped nearly 20% yesterday alongside Litecoin, Ethereum and other currencies which suffered more losses in comparison. The volatility spike saw approximately $3.4 billion worth of long trading positions liquidated in 24 hours.

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Technically speaking

By now the news has reached you that bitcoin has taken…

As the powers that be an attempt to exert waning influence on money, bitcoin continues to improve and gain more adoption. Confidence in legacy monetary technology is decreasing.

Bitcoin’s very existence stands in defiance to fundamentally inadequate and often corrupt money practices that have reigned for the last 100 years.

Let’s dig in.

Litecoin has rallied lately, climbing to its highest price point since mid-May as the digital currency’s network continues to benefit from tailwinds and growing network activity. …

The International Monetary Fund is displeased that El Salvadore opted for Bitcoin instead of cumbersome and extortionate loans from international conglomerates.

Meanwhile, altcoins have boomed as Bitcoin stalls just under the $50,000 mark. Will the king crypto follow Ethereum to new local highs or will Bitcoin spoil the party?

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The International Monetary Fund (IMF) has warned that cryptocurrencies like Bitcoin and Litecoin are privately issued assets that are riddled with risks.

The IMF pointed out that widespread use of crypto would threaten “macroeconomic stability” and could harm financial integrity. However, it is unclear which kind of integrity…

On-chain data shows that Bitcoin is experiencing a strong recovery, both in terms of hashing power and fundamentals. Is the market getting ready for an explosive second half of 2021?

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The Bitcoin hash rate is on a steady incline as miners fleeing from China turn their rigs back on. Since the June low around 84 exahashes per second (EH/s), the hash rate has ticked 50% higher, reinforcing the fact that Bitcoin is ultimately agnostic of hostile country regimes.

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Technically speaking

On-chain data is useful for contextualising price-action, which in turn provides the groundwork…

Bitcoin fell slightly short of $51,100 as investors took profit and set the stage for a period of consolidation. Bitcoin has increased over 70% since bottoming out in July and has done so in a relatively short amount of time. Is it time for the king crypto to enter into a healthy cool-off period?

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Silver to Bitcoin’s Gold? The Case for Litecoin

Litecoin is a household crypto name that has been around for more than ten years. It was first created in 2011 by Charlie Lee as an attempted upgrade to Bitcoin and since then, has been a major beneficiary of Bitcoin’s global success, gaining…

Bitcoin bulls are relentlessly pushing for new local highs as the world’s largest cryptocurrency by market capitalisation reaches $950 for the second time this year.

Meanwhile, a survey from Deloitte found that most money managers expect crypto to rival or replace fiat currencies within 10 years.

However, warning signals on the charts and in traditional financial markets suggest that volatility could come back with a vengeance in September.

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Deloitte: Crypto will Replace Fiat Within 10 years

A survey by one of the big four accounting firms found the financial professionals expect bitcoin and crypto to rival or replace fiat in the next ten years…

Palantir Technologies has bought gold in preparation for another black swan event. The Peter Thiel owned firm accepts both Bitcoin and gold as a means of payment, though clients have yet to purchase anything with these non-traditional assets.

Meanwhile, Bitcoin is experiencing what can only be described as a cooling-down period within a larger bullish trend reversal.

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Peter Thiel’s Palantir Buys $51 million in Gold Bars

Palantir Technologies revealed that it is preparing for another “black swan event” not dissimilar to the March 2020 crash by stockpiling gold bars and inviting customers to pay for its data analysis software using the precious metal.

Check out the…

Grayscale Founder Barry Silbert said that $100,000 is magnetic for bitcoin. The last time he made such a claim was in 2019 when BTC was worth just $4,000.

However, technical data suggests that the pioneer crypto might be running out of steam in the immediate short term unless these key levels are conquered.

Let’s dig in.

Grayscale Founder Barry Silbert: $100,000 is a magnet for Bitcoin

In 2019, Grayscale founder Barry Silbert asserted that $20,000 was magnetic for the price of bitcoin. This week, Silbert said that $100,000 is a magnet for the top cryptocurrency by market capitalisation.

Check out the full article here!

BTC/USD inches higher

Bitcoin is exchanging hands close to…


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